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gaming partners internationa (GPIC) Details

Gaming Partners International Corporation manufactures and supplies casino table game equipment in the Americas, Asia-Pacific, Europe, and Africa. It offers American-style casino currency, such as injection-molded currency, thermo-compression molded currency, laser cut-thermo-compression molded currency, and sublimation currency; European-style casino currency, including jetons and plaques; low and high frequency radio frequency identification device (RFID) casino currency; RFID readers for cage, table, and vault applications; and RFID technologies for casino currency readers and antennas, as well as CIS software, hardware, and maintenance services. The company also provides playing cards; table layouts; gaming furniture comprising tables, bases, and pit podiums; casino table game accessories consisting of roulette reader boards, foot rails, chip trays, drop boxes, shoes, cut cards, dice sticks, lammers, markers, buttons, and air rail system ventilation devices; and dices. In addition, it markets casino-specific themed products for customers to promote special events, such as sporting events, conventions, holidays, casino anniversaries, and premier entertainment events. The company offers its products under the Paulson, Bourgogne et Grasset, Bud Jones, Blue Chip, and Gemaco brands. Gaming Partners International Corporation markets and sells its products through its sales force, as well as through sales agents or distributors. The company was founded in 1963 and is headquartered in Las Vegas, Nevada.

gaming partners internationa (GPIC) Key Developments

On June 26, 2015, Gaming Partners International Corporation entered into a $10.0 million 7-year term loan facility and a $5.0 million 5-year revolving credit facility, for a combined $15.0 million facility with Nevada State Bank. The facility will be used to refinance existing indebtedness and for working capital, capital expenditures and other general purposes. The company borrowed the full amount under the term loan facility and repaid the $10.0 million demand line of credit with HSBC Bank USA, National Association on June 26, 2015. The company has not drawn down any funds under the revolving credit facility. Interest on funds borrowed under the term loan facility and the revolving credit facility will be charged at a rate per annum equal to LIBOR plus 2.25%. The facility contains customary representations, warranties and affirmative, negative and financial covenants. The covenants contain, among other things, limitations on the company's and its subsidiaries' ability to merge, consolidate, dispose of assets, or incur liens or certain indebtedness. Under the financial covenant, the company will not permit its fixed charge coverage ratio to be less than 1.15 to 1.00 or its leverage ratio to be more than 3.00 to 1.00 as of the last day of any fiscal quarter for the 12 consecutive months ending on such date. The facility includes customary events of default, including events of default relating to non-payment of amounts due, material inaccuracy of representations and warranties, violation of covenants, non-payment or acceleration of other material indebtedness, bankruptcy and insolvency, and change of control. If an event of default occurs under the facility, the lender will be able to terminate the commitments and accelerate the maturity of the loans and exercise other rights and remedies. The company and its subsidiary, Gaming Partners International USA Inc. granted to lender a first priority security interest in substantially all of their assets as collateral for the facility. In addition, the facility is guaranteed by the company's subsidiaries Gaming Partner International USA Inc. and Gaming Partners International Asia Limited.

Gaming Partners International Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company posted net income of $2.0 million, or $0.25 per basic share and $0.24 per diluted share, on revenues of $18.7 million, compared to a net loss of $1.1 million, or $0.14 per basic and diluted share, on revenues of $10.6 million, for the comparable quarter of 2014. The increase in net income and Revenue was primarily attributable to the following two factors, both a direct result of the GemGroup acquisition: an increase in revenues from playing cards and table layouts, and improved production efficiencies from the relocation of Paulson playing card production from Mexico to GemGroup's Blue Springs, Missouri facility. Operating income was $1.769 million against operating loss of $1.049 million a year ago. Income before income taxes was $1.804 million against $0.994 million a year ago.

Gaming Partners International Corporation Receives $7.2 Million Order

Apr 29 15

Gaming Partners International Corporation announced that it received a $7.2 million order to supply gaming chips and plaques for a new casino in Macau. The order includes the company's Bourgogne et Grasset brand of plaques as well as the newly released V-Series American-style chips.

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